Who is An Actuary?

Actuaries help to manage risk by helping organizations plan for the longer term and protect themselves from loss. For example- Establishing retirement plans, determining minimum contribution to be paid by employer and employee, funding level of the scheme, determining the quantity of car premium charged by insurance firm from its customers by making an allowance for profit, expenses and a contingency margin, determining the premium to be charged by life assurance company just in case of benefit to be provided to member insured. undertaking asset liability matching.

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